Pan American Bank & Trust is partnering with Kabbage1 to reopen the Paycheck Protection Program (PPP) portal to applicants.
Make sure you have this required documentation ready:
All Applicants
All applicants should be prepared with the following:
- Business start date
- Bank account and routing number
Sole Proprietors and Self Employed
Suggested documents for sole proprietors, self-employed and individual contractors:
- 2019 IRS Form 1099-MISC for any independent contractors paid, not to exceed $100,000 for the year
- 2019 IRS Form 1040-C if your business is a sole proprietorship
If you have employees
Applicants with employees will need the following:
- 2019 IRS Form 941 for quarterly salary, wages, commissions, and tips
- 2019 IRS Form 944 same as 941, but annualized
- 2019 IRS Form W-3
- 2019 IRS Form 940 for any unemployment costs
- 2019 IRS Form 1099-MISC for any independent contractors paid, not to exceed $100,000 for the year
- 2019 IRS Form 1040-C if your business is a sole proprietorship
- Monthly payroll statements that will provide the following information
- Salary, wages, commissions, or tips (not exceeding $100,000 annually for each employee)
- Costs for vacation, parental, family, medical or sick leave
- Costs for separation or dismissal of employees
-
State & local taxes assessed on employee compensation
Why does Kabbage, Inc. need my bank account information?
Kabbage will use your financial information to determine your eligibility for credit. Kabbage asks that you link this information online so they can assess your business performance quickly and in an automated fashion and save you from the hassle of having to prepare financial statements or digging up old paperwork.
How secure is my information?
Pan American Bank & Trust Conforming Loan Payment Notice